The Black Lives Matter charity is on the fast track to bankruptcy according to a new report from the Free Beacon. The media outlet got ahold of the group’s 2022 tax return and it shows they won’t last long.
The co-founder of Black Lives Matter trashed the media last year for reporting that the founders of the group scored huge paydays while local chapters got a trickle of the funds that poured in after George Floyd’s death. Because of lax reporting, BLM cannot use raise money online anymore.
Patrisse Cullors said at the time: “It is such a trip now to hear the term ‘990. I’m, like, ugh. It’s, like, triggering. This doesn’t seem safe for us, this 990 structure — this nonprofit system structure. This is, like, deeply unsafe. This is being literally weaponized against us, against the people we work with.”
Maybe because people found out where the money went, mostly into the leader’s pockets.
“While Patrisse Cullors was forced to resign due to charges of using BLM’s funds for her personal use, it looks like she’s still keeping it all in the family,” said Paul Kamenar.
But the grift is coming to an end according to The Free Beacon:
“Black Lives Matter Global Network Foundation ran an $8.5 million deficit and saw the value of its investment accounts plummet by nearly $10 million in the most recent tax year, financial disclosures show.
“The financial losses come after a year of missteps and setbacks for the embattled charity. BLM raised just $9.3 million in its 2022 fiscal year, down 88 percent from its haul the year prior.
“Black Lives Matter was forced to shut off its online fundraising streams in February 2022 due to compliance and transparency issues in several liberal states. The group has blown through two-thirds of the $90 million it raised in the wake of George Floyd’s death in the summer of 2020.
“BLM spent about $12 million of those funds on luxury homes in Los Angeles and Toronto. That profligacy did not abate in the 2022 fiscal year, when the charity dropped more than $10.5 million on contractors, much of which went to companies linked to Cullors’s friends and family.
“Cullors’s brother, Paul Cullors, made out especially well. A graffiti artist with no prior experience as a bodyguard, Paul Cullors and his two companies raked in $1.6 million providing “professional security services” for Black Lives Matter in 2022. Paul Cullors was also one of BLM’s only two paid employees during the year, collecting a $126,000 salary as “head of security” on top of his consulting fees.
“Black Lives Matter disclosed last May it had paid Paul Cullors a comparatively meager $841,000 to protect the charity’s swanky $6 million Los Angeles mansion in its 2021 tax year, which Patrisse Cullors used to film herself baking peach cobblers.”
NEW: Black Lives Matter is on the fast track to financial insolvency, according to its 2022 tax return obtained by the @FreeBeacon.
BLM bled cash, suffered blistering investment losses, and paid 7-figure contracts to Patrisse Cullors’s friends & family.https://t.co/6kgBvgmjSE
— Andrew Kerr (@AndrewKerrNC) May 23, 2023
Cullors: “It is such a trip now to hear the term ‘[IRS Form] 990.’ I’m, like, ugh. It’s, like, triggering.” pic.twitter.com/AjIPt9breD
— Andrew Kerr (@AndrewKerrNC) April 13, 2022
Cullors: “This doesn’t seem safe for us, this 990 structure — this nonprofit system structure. This is, like, deeply unsafe. This is being literally weaponized against us, against the people we work with.” pic.twitter.com/xQnCY4S2pw
— Andrew Kerr (@AndrewKerrNC) April 13, 2022
